Trading session on Thursday started with a strengthening dollar, caused by the first falling of quotations on the Japanese stock market, and then exacerbated the situation data on unemployment in the euro area, where the value was 9.5% (forecast 9.4%). Being under pressure, the European currency being dropped in anticipation of the ECB's decision to base the interest rate. Once again, the votes cast by representatives of China: Deputy Minister of Foreign Affairs Yafey He made it clear that China does not intend to raise the issue of a new reserve currency to replace the dollar at the forthcoming meeting next week of Eight G8 - this statement immediately spurred demand for U.S. currency. For the single European currency, a situation further aggravated after the statements by the President of the ECB Jean-Claude Trichet that recovery phase for the region will begin, perhaps, only in mid-2010
The decision to leave the ECB's base rate at the same level, almost no effect on the European currency, because no one expected the ECB surprises, as traders had already been under sufficient influence of the negative news on the euro.
Output data for the change in employment in the non-agricultural sector, the U.S. will only exacerbate an already negative situation on stock markets: the number of employees decreased by 467 thousand (estimated -363 thousand).
As a result of trades on Thursday was a significant strengthening of the dollar to all European currencies: a pair of Euro /Dollar 1.3987 rollback to a minimum, at least for a pair of pound /dollar was 1.6322, and the dollar /franc observed maximum 1.0866. Japanese currency in the European trades weakened to 96.87, but after the U.S. stock markets opened sharp gepom down, traders returned to safe yen, with its rapid strengthening to 95.69.
Forecast for Friday, July 3
On Friday markets in the United States will be closed due to Independence Day of the territory. From the news it should be noted the data to change the volume of international reserves of the UK for June and data on changes in retail trade in the euro area in May (estimated -0.1%, previous -0.2%).
For the euro /dollar on Friday, probably up to the correction of 1.4050, the level of support will make 1.39. Pound is likely to strengthen to 1.64, the Swiss franc will try to return to a level of 1.0800. Range of motion of a pair of dollar /yen will be 95.50 - 96.50.
Analytical review of the Forex market for the July 2, 2009.
Trading session on Thursday started with a strengthening dollar, caused by the first falling of quotations on the Japanese stock market, and then exacerbated the situation data on unemployment in the euro area, where the value was 9.5% (forecast 9.4%). Being under pressure, the European currency being dropped in anticipation of the ECB's decision to base the interest rate. Once again, the votes cast by representatives of China: Deputy Minister of Foreign Affairs Yafey He made it clear that China does not intend to raise the issue of a new reserve currency to replace the dollar at the forthcoming meeting next week of Eight G8 - this statement immediately spurred demand for U.S. currency. For the single European currency, a situation further aggravated after the statements by the President of the ECB Jean-Claude Trichet that recovery phase for the region will begin, perhaps, only in mid-2010
The decision to leave the ECB's base rate at the same level, almost no effect on the European currency, because no one expected the ECB surprises, as traders had already been under sufficient influence of the negative news on the euro.
Output data for the change in employment in the non-agricultural sector, the U.S. will only exacerbate an already negative situation on stock markets: the number of employees decreased by 467 thousand (estimated -363 thousand).
As a result of trades on Thursday was a significant strengthening of the dollar to all European currencies: a pair of Euro /Dollar 1.3987 rollback to a minimum, at least for a pair of pound /dollar was 1.6322, and the dollar /franc observed maximum 1.0866. Japanese currency in the European trades weakened to 96.87, but after the U.S. stock markets opened sharp gepom down, traders returned to safe yen, with its rapid strengthening to 95.69.
Forecast for Friday, July 3
On Friday markets in the United States will be closed due to Independence Day of the territory. From the news it should be noted the data to change the volume of international reserves of the UK for June and data on changes in retail trade in the euro area in May (estimated -0.1%, previous -0.2%).
For the euro /dollar on Friday, probably up to the correction of 1.4050, the level of support will make 1.39. Pound is likely to strengthen to 1.64, the Swiss franc will try to return to a level of 1.0800. Range of motion of a pair of dollar /yen will be 95.50 - 96.50.
The market today will try to gain a higher level of 980 points on the MICEX index
If the Bear able to penetrate the 940 points mark for the index of the MICEX, Russia's market will accelerate the downward movement
Following Thursday MICEX index was 977.09 point, which is 3.5% below the previous day's closing
Dynamics of the Russian index today would be fletovy nature
At the opening of the Russian stock indexes continue decline
The next goal is to reduce the area of 950 items on the MICEX index
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Gasoline went up to 7 grn